Franklin Electric (FELE) is Initiated by Ladenburg Thalmann to Sell

Franklin Electric (FELE) is Initiated by Ladenburg Thalmann to Sell , according to the research report released to the investors. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Franklin Electric Co., Inc. (NASDAQ:FELE) ended Thursday session in red amid volatile trading. The shares closed down 0.79 points or 2.74% at $28 with 200,322 shares getting traded. Post opening the session at $28.91, the shares hit an intraday low of $27.99 and an intraday high of $29.125 and the price vacillated in this range throughout the day. The company has a market cap of $1,298 million and the number of outstanding shares has been calculated to be 46,360,031 shares. The 52-week high of Franklin Electric Co., Inc. (NASDAQ:FELE) is $39.84 and the 52-week low is $22.71.

During the last several months other analysts have commented on the company rating. Boenning & Scattergood initiates coverage on Franklin Electric Co., Inc. (NASDAQ:FELE).The analysts at the brokerage house have a current rating of Neutral on the shares. The rating by the firm was issued on October 15, 2015.

As many as 8 brokerage firms have rated Franklin Electric Co., Inc. (NASDAQ:FELE) at 2.63. Research Analysts at Zacks have ranked the company at 2, suggesting the traders with a rating of buy for the short term. The stock garnered a place in the hold list of 6 stock Analysts. 1 analysts suggested buying the company. 1 analysts rated the company as a strong buy.

Franklin Electric Co., Inc. (NASDAQ:FELE): The stock price is expected to reach $ 34.75 in the short term. The number of analysts agreeing with this consensus is 4. The higher estimate for the short term price target is at $37 while the lower estimate is at $32. The standard deviation of the price stands at $2.22.

Franklin Electric Co., Inc. has lost 6.64% in the last five trading days and dropped 11.36% in the last 4 weeks. Franklin Electric Co., Inc. has dropped 1.37% during the last 3-month period . Year-to-Date the stock performance stands at -24.53%.

Franklin Electric Co., Inc. (Franklin Electric), together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, consists of submersible motors, pumps, electronic controls and related parts and equipment. The Company’s business consists of two segments: the Water Systems segment and the Fueling Systems segment. The Company includes unallocated corporate expenses in another segment that together with Water Systems and Fueling Systems represent the Company. The Company’s products are sold in North America, Europe, the Middle East, South Africa, Brazil, Mexico, Australia, Japan, China, and other world markets. In June 2014, it acquired Bombas Leao S.A. In August 2014, Franklin Electric Co Inc acquired 70% of Pluga Pumps and Motors Pvt Ltd.